10 Jun 2015 07:00
10 June 2015
Toumaz Limited
Co-development agreement with Google for Cast-for-Audio technology
Toumaz Limited (AIM: TMZ, 'Toumaz', or 'the Group'), a pioneer in low-power, wireless semiconductor technologies for healthcare and digital audio, has signed a co-development agreement with Google. This agreement will see the inclusion of Google's Cast-for-Audio technology in the Group's next generation connected audio solutions - due to ship in the first half of 2016.
Cast-for-Audio is an online content delivery platform which allows users to stream music services, such as Deezer, Pandora and Google Play Music, directly from the cloud to Cast-enabled speakers - all controlled by the user's mobile device.
The key advantage of the system is that it allows users of multiple music services to stream audio through any set of Cast-enabled speakers, without being tethered to the mobile device. Cast-for-Audio uses the same technology which supports Google's established Chromecast video streaming platform and is a key component of Google's home media streaming strategy.
Toumaz's proposition is a turnkey technology solution which allows consumer audio brands to build connected audio devices, such as Wi-Fi speakers and soundbars, quickly and easily. Reliance on in-house engineering teams is reduced and speed to market is improved. The inclusion of Cast-for-Audio in the Group's next generation solutions is a significant addition to its product portfolio.
The market for Wi-Fi connected audio devices is expected to grow nearly threefold in the next three years - from 14 million units in 2014 to 40 million in 2017. From 2016 onwards, a growing number of consumer audio brands will be including Cast-for-Audio in their devices. This agreement will enable Toumaz to address this market directly.
Anthony Sethill, CEO of Toumaz said:
"Our co-development agreement with Google will provide a major boost to our connected audio business in 2016 and beyond.
"In recent months, we have benefited from strong market growth and achieved a number of important design wins for our existing connected audio platform - driving 60% growth in year to date sales. With the addition of Cast-for-Audio, we expect to drive this growth further."
Enquiries:
Toumaz Limited | +44 (0)20 7391 0630 |
Anthony Sethill, Chief Executive Officer | |
Jonathan Apps, Chief Financial Officer | |
Instinctif Partners | +44 (0)20 7457 2020 |
Adrian Duffield/Chantal Woolcock |
About Toumaz (www.toumaz.com)
Toumaz Limited is a pioneer in low-power, wireless semiconductor and software technologies for healthcare and consumer audio. The company has two divisions, Sensium Healthcare and Frontier Silicon. Sensium Healthcare develops wireless solutions for patient monitoring. Frontier Silicon provides chips, modules and software for digital radio and connected audio devices.